Thursday 05, January 2017 by Jessica Combes

RAM Ratings withdraws Public Bank Berhad's issue rating following early redemption

RAM Ratings has received confirmation that Public Bank Berhad (the Group) fully redeemed and cancelled its RM1.2 billion Innovative Tier-1 Capital Securities (2006/2036) on 22 December 2016.

Consequently, RAM no longer has any rating obligation in respect of the said facility and has withdrawn its AA2/Stable rating. However, we will maintain surveillance on the Group's AAA/Stable/P1 financial institution ratings and those of the following debt issues:

span style="font-family: Calibri; font-size: small;">Instrument
Public Bank Berhad

Up to RM5 billion Subordinated MTN Programme (2008/2023)
Long-term rating
AA
Rating outlook
Stable

Up to RM5 billion Non-Cumulative Perpetual Capital Securities (NCPCS) under the Non-Innovative Tier-1 Stapled Securities Programme (2009/2066)
Long-term rating
AA
Rating outlook
Stable

Up to RM20 billion Senior MTN Programme (2013/2043)
Long-term rating
AAA
Rating outlook
Stable

Up to RM10 billion Subordinated MTN Programme (2013/2043)
Long-term rating
AA
Rating outlook
Stable

span style="font-family: Calibri; font-size: small;">Instrument
PBFIN Berhad

Up to RM5 billion Subordinated Notes (Sub Notes) under the Non-Innovative Tier-1 Stapled Securities Programme (2009/2066)

Long-term rating
AA
Rating outlook
Stable

  

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